Crypto Analyst Reveals His Top 3 Altcoins As Market Recovers
According to a prominent crypto analyst and trader, known as Cheds, Terra (LUNA), The Sandbox (SAND) and Avalanche (AVAX) represent the strongest altcoins at the moment.
Cheds opined in a recent interview with CryptoEMC YouTube channel that investing in a number of altcoins, crypto investors should focus on a select group of strong altcoins.
“I would not touch anything that has been weak, especially now. It’s an incredibly terrible market environment. The newer mentality is, ‘Well, the ones that are the most beat-up have the best chance to run.’
But trends will continue, and you want to play the stuff that has been the strongest before the breakdown because that will respond the best. It will put in higher lows. It will break the higher highs.”
The analyst believes that LUNA and AVAX are some of the strongest altcoins at the moment. He also mentions SAND, which he has a position in.
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. It combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. Terra’s native token, LUNA, is used to stabilize the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.
Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, and plans to become the most popular blockchain for smart contracts by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.
The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.
